Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) Stock Price Down 4.6% – Here’s What Happened

Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL)’s stock price dropped 4.6% during mid-day trading on Wednesday. The stock traded as low as $91.68 and last traded at $92.0490. Approximately 591,072 shares changed hands during trading, a decline of 59% from the average session volume of 1,435,358 shares. The stock had previously closed at $96.52.

Direxion Daily GOOGL Bull 2X ETF Price Performance

The stock has a market capitalization of $1.03 billion, a P/E ratio of 17.77 and a beta of 2.23. The stock has a fifty day moving average price of $100.37 and a 200 day moving average price of $110.62.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bullseye Investment Management LLC purchased a new stake in Direxion Daily GOOGL Bull 2X ETF in the 2nd quarter worth approximately $664,000. Turner Financial Group Inc. purchased a new position in shares of Direxion Daily GOOGL Bull 2X ETF during the 2nd quarter valued at $445,000. Optiver Holding B.V. increased its holdings in shares of Direxion Daily GOOGL Bull 2X ETF by 222.2% in the first quarter. Optiver Holding B.V. now owns 59,633 shares of the company’s stock worth $4,654,000 after purchasing an additional 41,127 shares during the period. Himension Capital Singapore PTE. LTD. bought a new position in shares of Direxion Daily GOOGL Bull 2X ETF in the first quarter worth $15,133,000. Finally, IMC Chicago LLC purchased a new stake in shares of Direxion Daily GOOGL Bull 2X ETF in the first quarter worth $437,000.

Direxion Daily GOOGL Bull 2X ETF Company Profile

The Direxion Daily GOOGL Bull 1.5X Shares ETF (GGLL) is an exchange-traded fund that is based on the Alphabet Inc Class A index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Google stock. GGLL was launched on Sep 7, 2022 and is managed by Direxion.